TL;DR
NPC International, the world's largest Pizza Hut franchisee, is acquiring 140 Wendy's locations in Maryland, Virginia, and Washington, D.C. to diversify its portfolio. The purchase makes NPC the largest franchisee in the system with 386 Wendy's locations.
The world’s largest Pizza Hut franchisee has decided to diversify its franchise portfolio. According to a recent QSR Magazine article, Kansas-based NPC International Inc. is buying 140 Wendy’s locations in Maryland, Virginia and Washington, D.C. This purchase makes it the largest franchisee in the system with 386 Wendy’s on top of its 1,136 Pizza Hut restaurants.
“As we continue to transform the system by facilitating restaurant sales to franchisees who have demonstrated operations excellence, brand and organizational leadership, and reinvestment in the business, we’re excited about NPC’s commitment to help Wendy’s reach its full potential in these important growth markets,” said Todd Penegor, president and CEO of The Wendy's Company.
NPC will remodel 90 of the 140 locations by the end of 2021 and will also build 15 new locations before the end of 2022. Wendy’s reported receiving $6.4 million in franchise fees with the deal’s closing, according to a Securities and Exchange Commission filing.
In this story
This story was originally published in 1851 Franchise on June 2, 2017. Burnaze summarizes and links to the original reporting.
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